This video explains the concept of Net Present Value and illustrates how to calculate the Net Present Value of a project via an example.
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This video explains how to use the average cost method to calculate cost of goods sold and ending inventory. An example is presented to illustrate how the average cost method is used to compute COGS and inventory.
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This video explains how to compute cost of goods sold and ending inventory using the FIFO (first in, first out) inventory cost assumption. An example is provided to illustrate how FIFO is used to calculate COGS and inventory.
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This video explains what job order costing is in the context of managerial accounting. An example is provided to illustrate how a job cost sheet is completed to account for the cost of a job under the job order costing method.
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This video discusses the differences between the periodic and perpetual inventory methods. A comprehensive example is provided to illustrate the different journal entries that are used to record inventory purchases, sales, and period-end adjustments under each method.
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This video explains the basic accounting equation and provides an example.
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This video explains the concepts of debits and credits in accounting. The video defines what the terms debit and credit mean and how they relate to the basic accounting equation.
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This video discusses the LIFO Reserve, also known as the LIFO effect. Some firms keep two sets of books, using FIFO to value inventory for internal reporting (used by managers) and FIFO to value inventory for external reporting (to prepare financial statements). In periods of rising prices FIFO results in higher inventory, so these firms must record an adjusting journal entry to reduce inventory to a LIFO basis. This video provides an example to show this LIFO Reserve is recorded.
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This video illustrates how to calculate the Break Even Point using Cost Volume Profit Analysis (CVP).
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This video discusses how to use Dollar-Value LIFO to value inventory. A comprehensive example is provided to demonstrate how ending inventory is calculated using Dollar-Value LIFO.
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This video explains how to estimate bad debt expense using the aging of accounts receivable method. An example is provided to illustrate how an aging schedule can be used to estimate uncollectible accounts and bad debt expense.
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This video discusses the concept of Macaulay Duration. The video uses a comprehensive example to demonstrate how Macaulay Duration is calculated, and it explains how Macaulay Duration is used to compare the interest rate risk of different bonds.
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This video explains the concept of Other Comprehensive Income (OCI) in Financial Accounting. The video also discusses the various items that are included as part of Other Comprehensive Income.
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This video explains what treasury stock is. An example is presented to illustrate how treasury stock is recorded with a journal entry and how it affects the balance sheet.
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When deciding whether to drop a product line, the only things that should be considered are the contribution margin provided by the product line and the fixed costs that could be avoided by dropping the product line. This is important because fixed costs are sometimes allocated to product lines, which can distort managerial decision-making by creating the appearance that the firm would be more profitable by dropping a product line that may appear unprofitable because it is being allocated fixed costs that would not disappear if the product line were dropped.
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This video explains the concept of WACC (the Weighted Average Cost of Capital). An example is provided to demonstrate how to calculate WACC.
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This video uses a comprehensive example to demonstrate how to account for investments using the Equity Method. When an investor owns between 20% and 50% of a firm's stock, the investor is deemed to have significant influence and must recognize a proportionate share of the firm's earnings.
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This video explains how to calculate Inventory Turnover and discusses why it is an important measure of a firm's performance.
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This video shows the differences between the Equity Method and Fair Value Method of accounting for investments. A comprehensive example is presented to illustrate how the Equity Method requires the investor to recognize a proportionate share of the investee's net income or loss, while the Fair Value Method requires the investor to recognize dividend revenue and unrealized holding gains or losses.
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This video defines the concept of Goodwill as used in accounting and provides an example of how Goodwill is calculated.
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This video explains how to calculate the margin of safety and the margin of safety percentage in the context of managerial accounting. An example is provided to demonstrate the computations for calculating the margin of safety and the margin of safety percentage.
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This video discusses how to account for the effects of Net Operating Losses in Financial Accounting. The IRS permits taxpayers to carry a Net Operating Loss (NOL) back two years or forward twenty years to offset taxable income. An NOL carryback allows a firm to receive a refund of taxes previously paid, whereas a carryforward allows a firm to offset future taxable income (thus, the firm recognizes a deferred tax asset). This video shows the journal entries that are used to record an NOL carryback as well as an NOL carryforward.
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This video explains what the Contribution Margin is in the context of managerial accounting. The formula for calculating a firm's Contribution Margin is provided, and several examples are used to demonstrate how Contribution Margin is calculated and used in actual practice.
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This video shows how to apply the lower-of-cost-or-market rule to value inventory. A comprehensive example is presented to illustrate how the original cost of the inventory is compared to its "market" value (the middle value of replacement cost, net realizable value, and net realizable value minus the normal profit) to determine whether an inventory writedown is necessary. The video then demonstrates how to record the appropriate writedown with a journal entry.
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This video illustrates how to value a firm's share price using a dividend discount model. The Gordon growth model equation is presented and then applied to sample problem to demonstrate how the Dividend Discount Model yields an estimate share price for a firm.
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This video explains what the Degree of Operating Leverage is in the context of managerial accounting. The formula for calculating the Degree of Operating Leverage is provided and an example is used to illustrate how the Degree of Operating Leverage can be used to predict how a change in sales will affect a firm's profitability.
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This video shows the difference between a defined-benefit pension plan and a defined-contribution plan. The core difference between these two types of plans boils down to what the employer is promising: with a defined-benefit pension plan, the employer is promising the employee a series of annuity payments after the employee retires. With the defined-contribution pension plan (e.g., a 401(k) plan), the employer is promising to make contributions to the employee's retirement account.
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This video explains the components of pension expense for a defined-benefit plan:
(1) Service Cost
(2) Interest Cost
(3) Expected Return on Plan Assets
(4) Amortization of Gains or Losses (corridor amortization)
(5) Amortization of Prior Service Cost
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This video discusses the difference between a temporary tax difference and a permanent tax difference. Tax differences arise because "book income" (income computed for financial reporting purposes, according to GAAP) is different from "tax income" (income computed for purposes of calculating the amount of corporate income tax due). Temporary tax differences reverse over time, whereas permanent tax differences never reverse. For example, the IRS allows U.S. firms to accelerate their depreciation deductions. This often results in firms front-loading the depreciation expense of an asset (taking more depreciation in the early years of the asset, and less depreciation in the later years of the asset). This difference is only temporary, however, as the same total amount of depreciation is taken for both book and tax purposes. Thus, the difference is merely one of timing, and it reverses itself over time. Permanent tax differences never reverse. An example of a permanent tax difference is the proceeds from a life insurance policy. Life insurance proceeds are not taxable so they will never appear in taxable income. Life insurance proceeds do appear in book income, however, so this creates a permanent tax difference (it does not reverse in a later period).
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This video explains the concept of IRR (the internal rate of return) and illustrates how to calculate the IRR via an example.
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This video explains what a stock split is, how a stock split affects the number of outstanding shares, and the rationale behind splitting a firm's shares.
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This video discusses the differences between job-order costing and process costing in the context of managerial accounting. Examples are provided to illustrate how job-order costing is used for heterogeneous products while process costing is used for homogeneous products, with an emphasis on how costs flow through departments rather than jobs under process costing (with work-in-process inventory accounts for each department).
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This video explains the LIFO inventory cost assumption (last in, first out). An example is provided to illustrate how LIFO is used to calculate cost of goods sold and ending inventory.
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This video explains the concepts of Prime Costs and Conversion Costs in Managerial Accounting. An example is provided to demonstrate how to calculate Prime Costs and Conversion Costs.
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This video explains how to use the High-Low Method to estimate the fixed and variable components of a mixed cost in accounting. An example is provided to demonstrate how the High-Low Method is used to calculate both the fixed cost and variable cost.
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This video explains the concept of the time value of money, as it pertains to finance and accounting. An example is given to illustrate why there is a time value associated with the timing of cash flows.
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This video shows how to calculate Diluted Earnings Per Share by using the Treasury Stock Method. A comprehensive example is provided to show how the exercise of stock warrants or stock options can dilute earnings per share.
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This video discusses the Deferred Tax Asset Valuation Allowance in Financial Accounting. Deferred Tax Assets provide future tax savings by reducing income tax payable in the future. A firm cannot realize these tax savings, however, if the firm does not generate taxable income in the future. Thus, if management believes it is more likely than not that some of the tax benefits provided by a deferred tax asset will not be realized, the firm must set up a valuation allowance as a contra-account to offset the value of the deferred tax asset on the balance sheet. If at some point in the future the firm does generate taxable income, it can reduce the valuation allowance. Management has considerable discretion in making decisions regarding the likelihood that the benefits from a deferred tax asset will be realized. In some cases, management may exploit the deferred tax asset valuation allowance for purposes of earnings management.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
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This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.

This video defines Managerial Accounting and explains five key functions: planning, decision-making, motivating, controlling, and performance evaluation. Because Cost Accounting is a subset of Managerial Accounting, this video introduces topics that pertain to both Managerial Accounting and Cost Accounting.
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
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This video defines free cash flow, provides an equation for calculating free cash flow, and illustrates the equation with an example.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video explains what additional paid-in capital is in the context of financial accounting. It also illustrates how to compute additional paid-in capital with an example journal entry for a stock issuance.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video discusses the key differences between Activity Based Costing and traditional costing systems in the context of managerial accounting.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video explains the concept of mixed costs in the context of managerial accounting. Mixed costs are defined and an example is provided to illustrate how mixed costs behave.
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video explains the difference between subsidized and unsubsidized student loans. "Subsidized" means that the U.S. government pays the interest that accrues while the student is attending school at least half-time, in a grace period, or in deferment. Unsubsidized begin incurring interest immediately, and the interest is added to the loan's balance at the end of each period assuming the student does not pay the interest. The video provides an example to illustrate how this process (known as interest capitalization) works with an unsubsidized loan.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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To follow Michael on Twitter, visit
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This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.

This video shows how to allocate joint costs using the Net Realizable Value method. The Net Realizable Method is particularly useful for allocating joint costs when you don't know the estimated sales value at the splitoff point and will be processing the products further.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video explains the concept of Comprehensive Income in Financial Accounting. The video also demonstrates the three different ways firms can present Comprehensive Income in their financial statements.
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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This video demonstrates how to prepare a Statement of Cash Flows using the Indirect Method. A comprehensive example is provided to illustrate how an income statement, comparative balance sheet, and additional information are used to create a Statement of Cash Flows from scratch.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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To follow Michael on Twitter, visit
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This video shows how changes in the price of a related good (a substitute or complement) can affect demand for a good. Decreases in the price of a substitute decrease demand for a good, while increases in the price of a substitute increase demand for a good. Conversely, decreases in the price of a complement increase demand for a good, while increases in the price of a complement decrease demand for a good.
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams.
To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin

This video discusses the difference between book income and taxable income in the United States. Book income is pre-tax financial income that is reported on an accrual basis in accordance with U.S. GAAP (generally accepted accounting principles). Book income is the income that is reported on the financial statements (the Income Statement). Taxable income, on the other hand, is that which is computed for purposes of filing the corporation's income tax return. There are many differences between book income and taxable income. This is because book income and taxable income have different objectives. Book income measures the change in a corporation's wealth and is used by investors and creditors to predict the timing and certainty of the firm's cash flows. Taxable income is computed on a modfied cash-basis and is based on the ability-to-pay doctrine (when a taxpayer receives cash, he or she is able to pay the tax on it even if the revenue hasn't been "earned"). Taxable income is used to compute the firm's tax due to raise revenue for the United States government. The differences between book and tax income can be temporary (this means the difference will reverse in a future period) or permanent (this means the difference never reverses).
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
https://facebook.com/Prof.Michael.McLaughlin
To follow Michael on Twitter, visit
https://twitter.com/Prof_McLaughlin
This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.

This video explains the concept of Cost of Goods Manufactured (COGM). The video also provides an example Schedule of Cost of Goods Manufactured to show how to compute COGM.
Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com
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Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com
To follow Michael on Facebook, visit
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